18 Issuers to Face Delisting: BEI's Explanation
The Indonesia Stock Exchange (BEI) has spoken out regarding the announcement of the planned delisting of 18 issuers.
According to BEI, the delisting is being carried out because the issuers are experiencing conditions or events that have a significant negative impact on their business continuity, either financially or legally, and the issuers cannot demonstrate adequate indications of recovery.
The delisting decision has been stated to comply with the provisions of Exchange Regulation No. I-N. Additionally, delisting is also imposed on issuers that have experienced securities suspensions, both in the regular market and the cash market, for at least the last 24 months.
“Before deciding on delisting, the Exchange has carried out various stages of coaching, encouragement, and opportunities for the listed companies to improve their performance while continuing to monitor,” emphasised Director of Company Evaluation I Gede Nyoman Yetna to reporters on Monday (13/4/2026).
Nyoman added that these steps are taken as a form of investor protection. Furthermore, BEI has also announced potential delisting for issuers that have been suspended for 6 months and issued reminders every 6 months thereafter.
“We hope this serves as a reminder for listed companies as well as an early warning for investors regarding the potential delisting,” he added.
In the coaching process, Nyoman said, BEI also coordinates with regulators and relevant parties from the beginning when the issuer experiences going concern issues, until it meets the delisting criteria, and subsequently fulfils the buyback obligations of the listed company’s shares post-delisting in accordance with POJK No. 45 of 2024 on the development and strengthening of issuers and public companies.
Based on the exchange’s announcement, the delisting will take effect on 10 November 2026.
For information, there are two groups of issuers affected by the delisting. First, seven companies that have been declared bankrupt, namely PT Cowell Development Tbk (COWL), PT Mitra Pemuda Tbk (MTRA), PT Sri Rejeki Isman Tbk (SRIL), PT Sunindo Adipersada Tbk (TOYS), PT Sejahtera Bintang Abadi Textile Tbk (SBAT), PT Tianrong Chemicals Industry Tbk (TDPM), and PT Omni Inovasi Indonesia Tbk (TELE).
Second, 11 other companies that have experienced share trading suspensions for more than 50 months. These issuers include PT Eureka Prima Jakarta Tbk (LCGP), PT Sugih Energy Tbk (SUGI), PT Marga Abhinaya Abadi Tbk (MABA), PT Limas Indonesia Makmur Tbk (LMAS), and PT Golden Plantation Tbk (GOLL).